The growth in consumer spending levels post economic slowdown in developed regions, along with increasing disposable income in the developing countries, has up surged the market penetration of the electronic musical instruments market, in the past few years. Electronic drum kit is slowly and steadily replacing the conventional drum kit. The price of traditional drum kit has fallen steadily over the years, owing to high market penetration of electronic drum. Fewer additional accessories, such as cymbals and heads minimize the operational cost of electronic drum, over the longer run. Moreover advantages, such as less acoustic noise, on board headphones for silent practice, and overall portability of electronic drum kit makes it one of the popular alternatives of traditional acoustic drums.
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Asia Pacific accounted for the largest regional market of electronic drum in 2014; while it is also expected to retain its market leadership position, during the forecast period attributed to the increasing consumer spending and middle class consumer base in developing countries. North America and Europe are expected to witness a moderate growth, during the forecast period. The U.S. and Canada are the major electronic drum markets in North America. Japan, China, India, and Australia are the major electronic drum market in Asia Pacific. Germany, the U.K., Spain, France and Italy are the major markets in Europe.
Yamaha Corporation, Roland Corporation and KORG Inc., together account for the large part of global electronic drum market. The consolidated market structure of electronic drum provides high barrier for the new entrants. Moreover, the high product differentiation and high proprietary learning curve is expected to increase the barrier within entry in the coming years. Some of the competitors in the electronic drums market are Yamaha Corporation, Roland Corporation, KORG Inc., inMusic Brands Inc., Sonido Musicals, Fossil Power Systems Inc., Medeli Electronic (Shenzhen) Co. Ltd., and Pyle Audio.
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This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities